Aug. 6 at 5:00 AM
$BORR Here's an overview of the deal ADES is offering for Shelf Drilling and how it might be used to speculate on BORR Drilling:
ADES-Shelf Drilling deal
ADES International Holding has agreed to acquire Oslo-listed rival Shelf Drilling for 3.9 billion Norwegian crowns (approx.
$379.33 million) in cash.
The offer of 14 crowns per share represents a 62% premium over Shelf Drilling's closing price on the day of the announcement.
This transaction is expected to create a significant player in the shallow-water offshore drilling market, with the combined company operating a fleet of 83 jack-up rigs.
Shelf Drilling will be delisted from the Oslo Stock Exchange upon completion of the merger.
The transaction is subject to approval by an extraordinary general meeting of Shelf Drilling's shareholders and other customary closing conditions.
Speculating on BORR Drilling based on the ADES-Shelf deal
